Australia-Review of RET could decimate the industry says CEC #renewableenergy

Clean Energy Council Acting Chief Executive Kane Thornton said that the recommendations proposed by the review could bankrupt the industry and put thousands of workers out of a job, while terminating competition and innovation in the Australian energy sector. “It is inconceivable that the review could objectively recommend slashing the RET when its own economic modelling showed this would lead to higher power bills in the long run, while at the same time smashing billions of dollars of investment” Mr Thornton said. “The review panel has clearly misunderstood the devastating effect of many of its recommendations. It is particularly naive to suggest that slashing the target would not have a massive impact on businesses that have invested on the basis of a legislated policy scheduled to operate out to 2030, and with over a decade of bipartisan support to date.” The review pan...